CHENNAI: Enforcement Directorate has launched an investigation against Wellness Guru and self-styled godman Kalki Bhagwan and his son NKV Krishna for suspected Foreign Exchange Management Act violations. An investigation was launched after Income-Tax department submitted the documents pertaining to seizure of about Rs 20 crore worth foreign currency.
This also comes in the wake of I-T department likely to summon Kalki and Krishna over undisclosed income which could run more than Rs 600 crore, said I-T sources. Raids conducted on 40 premises belonging to Kalki and his son in Chennai, Hyderabad, Bengaluru and Varadaiahpalem have ended and I-T officials have unearthed unaccounted cash worth Rs 45 crore, jewellery worth Rs 1 crore and foreign currency worth Rs 20 crore. The group had made several investments in land, the sources said.
The sources said that money had been invested abroad in jewellery. It will be investigated under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, which aims to curb black money, or undisclosed foreign assets and income and imposes tax and penalty on such income.